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Vedder Thinking

  • Press Release

    Vedder Price Expands Investment Services Group with Addition of Christine De Pree

    August 1, 2023

    Vedder Price is pleased to announce the addition of veteran attorney Christine De Pree as a new Shareholder in the firm’s Investment Services group.

    De Pree brings to the firm more than 22 years of both in-house and firm experience in counseling investment companies and investment advisers in connection with regulatory, compliance and transactional issues. 

    Prior to joining the firm, De Pree spent the last nine years at Franklin Templeton where she focused on fund disclosure and transactions. For several years, she also oversaw a global team that voted proxies on behalf of all Franklin Templeton’s clients.

    “Adding Christine to our firm brings a wealth of investment company experience,” said John S. Marten, Shareholder and Co-Chair of the Investment Services practice group at Vedder Price. “Christine will certainly make an exceptional addition to our team, and we are happy to bring her strategic guidance to the firm to help our clients meet their needs.”

    Additional areas of focus for De Pree include all aspects of fund registration statement updates and other SEC filings. De Pree also analyzes various SEC proposals related to funds.

    De Pree received her law degree from DePaul University College of Law and her undergraduate degree from the University of Wisconsin – Oshkosh.

  • Press Release

    Vedder Price Represents JetSmart Airlines in Aircraft Portfolio Transaction

    August 3, 2023

    Vedder Price is pleased to announce that it represented JetSmart Airlines, a South American ultra low-cost carrier, in connection with the closing of an Aircraft sale and lease novation transaction.

    In this transaction, Ashland Place Finance financed the acquisition of two Airbus A320 aircraft for Aergo Capital, on lease to JetSmart.

    “We were happy to partner with JetSmart and assist them in this transaction” said Neil Poland, Partner in Vedder Price’s Global Transportation Finance team. “It was a true overall collaborative team effort to successfully see this deal through, and was a positive outcome for all parties involved.” 

    In addition to Neil Poland, the Vedder Price legal team on the transaction also included Solicitor Esha Nath.

  • Article

    Unionization Upon Demand: NLRB Announces Most Significant Change to Labor Law in 50 Years

    August 25, 2023

    Today, in perhaps the most significant change in federal labor law in more than 50 years, the National Labor Relations Board (“NLRB” or “Board”) announced a new framework that determines when employers are required to recognize and bargain with a union upon demand, without a representation election.  

    In Cemex Construction Materials Pacific, LLC, 372 NLRB No. 130, the NLRB adopted a modified version of the Joy Silk doctrine, a doctrine that dates back to the 1949 case, Joy Silk Mills, Inc., 85 NLRB 1263 (1949), but that the Board had abandoned in 1969.  Under the new Cemex framework, unions will be able to demand recognition and bargaining merely by demonstrating majority support (most often done through the presentation of signed authorization cards that are solicited without any NLRB oversight) within the proposed unit of employees.  Faced with this demand, employers have two choices:  either recognize and bargain with the union, or immediately file an election petition of its own with the NLRB.1 

    The Board’s new Cemex standard provides that any unfair labor practice during the election period will result in the outright dismissal of the petition and an order requiring the employer to recognize and bargain with the union without an election.  Under the old standard now abandoned by the NLRB, which prioritized the employees’ right to vote in a secret ballot election supervised by the NLRB, only especially egregious unfair labor practices could result in a bargaining order.

    The Cemex decision arguably marks one the most significant changes to the union election process in more than half a century.  The NLRB’s decision is certain to be challenged in the courts, but those appeals will take years to play out. In the meantime, observers expect unions to aggressively demand recognition from employers.  All employers, therefore, should examine their union-free and labor relations strategies to minimize their exposure to card signing campaigns.  Employers also should consider conducting training and workplace audits to identify areas of risk and be ready to respond quickly.  The Labor and Employment attorneys at Vedder Price are experienced in this type of preparation and assessment and would be glad to discuss individualized plans for employers. 

    (1) A previous version of this article contained the traditional, very strict, requirements for an RM petition.  The Board in Cemex, however, seemed to indicate that these requirements will not apply in the situation where a union requests recognition of a new bargaining unit.

  • Newsletter/Bulletin

    Investment Services Regulatory Update August 2023

    August 28, 2023

    SEC Adopts Significant Money Market Fund Reforms and Amended Form PF Reporting Requirements for Private Liquidity Fund Advisers

    SEC Proposes Amendments to the Internet Adviser Exemption

    SEC Proposes New Requirements to Address Conflicts of Interest in the Use of Artificial Intelligence and Similar Technologies

    SEC Staff Issues Risk Alert Regarding Observations from Anti-Money Laundering Compliance Examinations of Broker-Dealers

  • Seminar

    2023 DC Employment Roundtable

    September 21, 2023

    Please join the Labor & Employment attorneys of Vedder Price for a roundtable discussing timely employment-related topics in Washington, DC, Maryland and Virginia, and at the federal level.

    The setting for this year’s program is the historic National Union Building, located next to the equally historic Ford’s Theater. The National Union Building was built for the National Union Fire Insurance Company by renowned architect Glenn Brown in 1890 and was the first building designed around an elevator in Washington, DC. The building is on the National Register of Historic Places.

    Event Details

    Thursday, September 21 | 8:30 - 11:00 a.m. (ET)

    National Union Building |Washington, DC
    918 F Street NW, Washington, DC 20004

    Breakfast provided.

    This complimentary program is designed for in-house counsel and human resources professionals to offer you the opportunity to meet, network and share ideas with your peers from other organizations.

    Agenda Topics

    • Washington, DC, Maryland and Virginia Legal Updates
    • Need to Know Employee Benefits Updates
    • Navigating Thorny Leaves of Absence and ADA Accommodation Issues
    • The Ever-Evolving Restrictive Covenant Landscape
    • Managing Remote Work Challenges

    CLE Pending & HRCI Credit

    Vedder Price is an accredited CLE provider in California, Illinois and New York; and, when possible, a sponsor in Florida, Texas and Virginia.

    The use of this official seal confirms that this Activity has met HR Certification Institute’s® (HRCI®) criteria for recertification credit pre-approval.

    HRCI Seal 2023

     

  • Seminar

    Edward K. Gross to Present at Revolution.Aero San Francisco

    September 6-7, 2023

    Shareholder and member of the firm’s Global Transportation Finance team Edward K. Gross will present at the Revolution.Aero in San Francisco on September 6 and 7. Revolution.Aero brings together thought leaders, innovators and investors in the aviation and aerospace industries, and provides attendees with the opportunity to hear from a diverse range of speakers, participate in interactive sessions, and network with like-minded individuals passionate about shaping the future of aviation and aerospace.

    Mr. Gross will moderate the session “How can OEMs finance production” in which he and his panelists will discuss debt versus equity, using government incentives, managing supply chains, and customer finance and support.

    To learn more about the conference, please click here.

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